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CRU warns most commodities have further to fall

By: Mariaan Webb     Updated 6 hours ago As the economic fallout of governments’ responses to the Covid-19 pandemic is starting to be counted, commodity market analyst CRU has warned that the repercussions will be significant and that most commodities prices have not yet reached the bottom. The coronavirus crisis has affected all... 

CRU warns most commodities have further to fall
The steelmaking value chain continues to favour iron-ore miners as prices remain elevated.

Alrosa cuts production target by up to 17%

By: Creamer Media Reporter      22nd May 2020 Diamond major Alrosa on Friday announced that it would curtail 2020 production to between 28-million and 31-million carats, in response to the crisis unfolding in the global rough and polished diamond market. The 2020 production guidance compares with the group’s initial guidance of 34-million... 

Alrosa cuts production target by up to 17%

Nordic investors turn up heat on coal in climate campaign

By: Reuters     25th May 2020 Five years after first ditching some coal companies, Nordic investors are turning their focus to bigger carbon emitters in a range of industries, paving the way for other funds to follow. Norway's sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), last week excluded... 

China’s platinum users increase stock levels 

By: Martin Creamer     21st May 2020 Industrial platinum users and jewellery platinum users in China have been taking advantage of the low platinum price to increase their stock levels. China increased stock levels in this way twice before: in 2008 with the global financial crisis and again in 2014 ahead of the long strike. 

China’s platinum users increase stock levels
World Platinum Investment Council research director Trevor Raymond

Basto to run BHP’s Australian mines

By: Mariaan Webb     22nd May 2020 Edgar Basto has been promoted to president of mining major BHP’s entire suite of Australian operations, including iron-ore, coal, nickel and copper, with effect from July 1. The Colombia-born executive previously headed BHP’s Western Australia iron-ore business and is filling the position left... 

Basto to run BHP’s Australian mines
Edgar Basto will head BHP's Australian operations.

All Star appoints seasoned mining veterans to its board

By: Marleny Arnoldi     22nd May 2020 London-listed junior mining investment company All Star Minerals has appointed Ian Harebottle and Richard Lloyd as directors. Harebottle is a former CEO of Aim-listed companies Gemfields and TanzaniteOne.  

Nordgold's first-quarter output up 4% y/y

By: Tasneem Bulbulia     22nd May 2020 Gold producer Nordgold’s production for the first quarter ended March 31 increased by 4% year-on-year to 225 900 oz, mainly driven by higher volumes of ore processed at Taborny and Gross mines, in Russia, and the Suzdal mine in Kazakhstan, as well as higher recovery rates at Gross, Suzdal and the... 

Antofagasta’s Luksic continues to believe in copper

By: Mariaan Webb     21st May 2020 Despite the price volatility of the past few years and the company’s growth projects grinding to a halt, London-listed miner Antofagasta chairperson Jean-Paul Luksic says the long-term fundamentals of copper and future demand outlook remain strong. The miner has suspended its Los Pelambres... 

Antofagasta’s Luksic continues to believe in copper
Antofagasta chairperson Jean-Paul Luksic

Mining becoming significant corporate buyer of renewable energy ­– ICMM 

By: Martin Creamer     21st May 2020 The mining industry has started to become a significant corporate buyer of renewable energy in regions where these technologies have become reliable and cost-competitive compared with fossil fuel-based electricity, says the International Council on Mining and Metals (ICMM). These regions include... 

Mining becoming significant corporate buyer of renewable energy ­– ICMM
Wind turbines at Gold Fields’ Agnew gold mine in Western Australia.

Tharisa records solid results in difficult interim period  

By: Tasneem Bulbulia     21st May 2020 JSE-listed integrated resources group Tharisa mined 2.27-million tonnes of reef in the six months ended March 31, a 2.3% year-on-year increase. Tharisa, which is led by CEO Phoevos Pouroulis, owns and operates the large-scale openpit Tharisa Minerals platinum group metals (PGMs) and chrome mine... 

Galileo acquires copper exploration assets in Botswana

By: Tasneem Bulbulia     21st May 2020 Aim-listed Galileo Resources has completed the acquisition  of 100% of Botswana- incorporated Crocus-Serv, having satisfied the conditions precedent in terms of an earlier heads of agreement (HoA). Crocus's assets include 21 exploration prospecting licences (PLs), 19 of which are in the highly... 

Alrosa works around travel restrictions with its biggest-ever digital tender

By: Creamer Media Reporter      21st May 2020 Diamond major Alrosa has offered 800 rough diamonds to customers through its digital platform, amid limited business travel owing to Covid-19-pandemic-related restrictions. The digital tender – its biggest ever – is taking place between May 15 and 29. 

Danakali nears completion of Colluli's EPCM Phase 2

By: Donna Slater     21st May 2020 ASX- and LSE-listed potash company Danakali says its Eritrea-based Colluli potash project’s engineering procurement and construction management (EPCM) Phase 2 is nearing completion. The front-end engineering design (FEED) and schedule of the Colluli project is now in its final stage, on budget... 

South African platinum coin sold out as global coin demand skyrockets 

By: Martin Creamer     19th May 2020 The initial minting of the new South Africa platinum coin has been an instant success as demand for platinum coins skyrockets worldwide. The 1 oz Elephant platinum bullion coin, which made its debut in March as part of a Big Five platinum bullion coin series, is completely sold out, World... 

South African platinum coin sold out as global coin demand skyrockets
South Africa's new platinum coin has been an instant success.

Mining billionaire gets help from ex-spies in bitter legal fight

By: , Bloomberg     25th May 2020 Black Cube, the private intelligence agency run by former Israeli spies, spent months setting up companies around the world. Offices, websites and employees were painstakingly put in place -- all part of a sting targeting former executives at Brazilian mining giant Vale. The Black Cube... 

Mining billionaire gets help from ex-spies in bitter legal fight
The Simandou project, in Guinea.

Mandatory code of Covid mining practice gazetted 

By: Martin Creamer     19th May 2020 South Africa's guidelines for a mandatory Code of Practice (COP) to mitigate and manage the Covid-19 pandemic in the mining industry have been gazetted. Failure by employers to prepare and implement a mine's COP in line with the guidelines would constitute a criminal offence and a breach of the... 

Mandatory code of Covid mining practice gazetted
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

China's mine development in sub-Saharan Africa likely to slow

By: Simone Liedtke     20th May 2020 The development of mines in sub-Saharan Africa by Chinese firms will slow in the coming quarters, before picking up again in 2021, says industry research company Fitch Solutions. In addition to logistical challenges being faced by miners as a result of the global Covid-19 pandemic, the company... 

Auto-battery makers mull alternative chemistries to lower costs, increase driving range 

By: Tasneem Bulbulia     22nd May 2020 Battery makers and car manufacturers have seen a shift in the pursuit of altering battery chemistry to lower the costs of new energy vehicles (NEVs) that are being manufactured and extend their driving range. Speaking to Engineering News & Mining Weekly, independent research house Afriforesight... 

Auto-battery makers mull alternative chemistries to lower costs, increase driving range

Newmont issues new 2020 guidance, lowers capex

By: Mariaan Webb     19th May 2020 US-based gold major Newmont has issued a new production guidance for 2020, as it began ramping up operations at four sites that were previously placed in care-and-maintenance. CEO Tom Palmer reported in a media statement on May 19 that 13 sites of Newmont's14 operating mines and joint ventures... 

Newmont issues new 2020 guidance, lowers capex
The Musselwhite mine , in Canada, is the only Newmont operation that remains on care-and-maintenance.

Sulphur squeeze spells trouble for Congo's copper, cobalt miners

By: Reuters     20th May 2020 Disruptions caused by the coronavirus crisis have pushed up prices for sulphur by about 10% this year in the Democratic Republic of Congo, driving up costs of a vital ingredient for mining cobalt and copper in the African nation. Coronavirus lockdowns and border closures in South Africa and parts... 

Gazetted Covid guideline restates much of what mining has already adopted 

By: Martin Creamer     20th May 2020 The newly gazetted guideline to prevent, mitigate and manage the Covid-19 pandemic on mines is largely a restatement of what has already been adopted by the mining industry. Most of the requirements of the code of practice (COP) mandated in the gazette already form part of the standard operating... 

Gazetted Covid guideline restates much of what mining has already adopted
ENSafrica executive consultant Willem le Roux

Coal market faces fresh speculation China shunning Australia

By: , Bloomberg     22nd May 2020 A coal market only just rebounding from the lowest price in four years might now need to grapple with the prospect of China renewing its restrictions on Australian supplies. Two influential coal industry publications within China have raised the specter of the country tightening imports from... 

Coal market faces fresh speculation China shunning Australia

Odey says governments may make private gold ownership illegal

By: , Bloomberg     20th May 2020 Crispin Odey, one of Europe’s highest-profile hedge fund managers, said that governments may ban private gold ownership if they lose control of inflation in the wake of the coronavirus crisis. “It is no surprise that people are buying gold. But the authorities may attempt at some point to... 

Mponeng detects 196 Covid cases, suspends mining – AngloGold Ashanti

By: Martin Creamer     24th May 2020 Gold mining company AngloGold Ashanti on Monday confirmed that, following the detection of its first positive Covid-19 case at its Mponeng gold mine last week, a comprehensive screening, contact tracing and testing programme had revealed 196 positive cases at the site in Merafong, in Gauteng... 

Mponeng detects 196 Covid cases, suspends mining  – AngloGold Ashanti
Mponeng Gold Mine

Qld Parliament passes mining manslaughter laws

By: Esmarie Iannucci     20th May 2020 The Queensland Parliament has passed mine safety legislation that would see mining executives facing up to 20 years’ jail if fatalities occurred because of criminal negligence. Mines Minister Dr Anthony Lynham said establishing industrial manslaughter as an offence in mines and quarries was... 

NUM also wants govt to temporarily close mines, test all employees in Limpopo

By: Marleny Arnoldi     20th May 2020 The National Union of Mineworkers (NUM) North East Region branch, in Limpopo, has called for a temporary closure of all mines in the province, but still wants mining companies to pay their workers in full. This follows after two mines near Burgersfort recorded a number of positive Covid-19... 

NUM also wants govt to temporarily close mines, test all employees in Limpopo

Papua New Guinea court to rule on Barrick mine challenge in June

By: Reuters     19th May 2020 A Papua New Guinea court is set to rule next month on whether Barrick Gold can proceed with a legal challenge over the government's refusal to extend its lease on the Porgera gold mine, the head of the country's mining regulator said. Papua New Guinea (PNG) said last month it would take control... 

Papua New Guinea court to rule on Barrick mine challenge in June

Mining companies rush to shield indigenous communities from coronavirus

By: Reuters     20th May 2020 Big mining companies that rely on indigenous workforces or operate near remote communities have acted fast to curb the spread of the coronavirus and avoid a public health crisis that could damage their reputations. From Australia's outback to Canada's Arctic wilderness to the Andes, mining firms... 

Mining companies rush to shield indigenous communities from coronavirus

Melkior and Kirkland Lake the ‘perfect fit’

By: Creamer Media Reporter      21st May 2020 Timmins-focused Melkior Resources on Wednesday unveiled an equity investment and potential joint-venture (JV) agreement with gold miner Kirkland Lake Gold, which the junior’s CEO sees as the “perfect fit”. Melkior will raise C$1-million by way of a nonbrokered private placement to Kirkland of up... 

Melkior and Kirkland Lake the ‘perfect fit’

Jubilee relocates chrome plant to maximise earnings 

By: Simone Liedtke     19th May 2020 Aim- and AltX-listed metals processing company Jubilee Metals will relocate its fine chrome operation from the Dilokong chrome mine (DCM) to the group’s larger Inyoni or Windsor operations in South Africa. Jubilee on May 19 said the move would optimise group earnings. 

Barrick’s Japan alliance starts exploration

By: Mariaan Webb     20th May 2020 A large regional exploration programme under the alliance that gold major Barrick formed with TSX-V-listed junior Japan Gold has begun. Barrick and Japan Gold announced their alliance in February this year. Barrick CEO Mark Bristow recently said that the group was interested in Japan, which has... 

Barrick’s Japan alliance starts exploration

McEwen posts nearly $100m quarterly loss on Gold Bar impairment

By: Mariaan Webb     19th May 2020 Canadian gold miner McEwen Mining has taken an impairment charge of $83.8-million for the Gold Bar mine, in the, US, citing a change in the geological interpretation that resulted in a substantial reduction in expected gold output over its life of mine. The impairment charge resulted in McEwen... 

McEwen posts nearly $100m quarterly loss on Gold Bar impairment
The Gold Bar mine, in Nevada.

Leon lists measures to attract mining investment in these challenging times  

By: Martin Creamer     22nd May 2020 South Africa should consider appointing an independent minerals regulator to speed up minerals licensing, Herbert Smith Freehills Africa co-chair Peter Leon said during a webinar this week. Responding to Patrick Leyden, who moderated the webinar entitled re-imagining the sub-Saharan mining... 

Leon lists measures to attract mining investment in these challenging times

Dominion Diamond reaches agreement to sell substantially all its assets

By: Creamer Media Reporter      25th May 2020 Struggling miner Dominion Diamond Mines, which filed for insolvency last month, has reached an agreement to sell substantially all its assets in a transaction that will allow mining operations at Ekati to resume and avoid bankruptcy. The company signed a letter of intent (LoI) with an affiliate... 

Dominion Diamond reaches agreement to sell substantially all its assets
The Ekati mine, in Northwest Territories.

US uranium production slumped 89% last year

By: Mariaan Webb     20th May 2020 US uranium concentrate production slumped 89% last year, to 174 000 lb of U3O8, according to information by the US Energy Information Administration (EIA). This is a sharp decrease from the 4.89-million pounds a year that the US produced five years earlier. The EIA report comes about a month... 

US uranium production slumped 89% last year

Rio starts exploration in Utah

By: Esmarie Iannucci     20th May 2020 Mining major Rio Tinto’s subsidiary Kennecott is poised to start exploration work at ASX-listed Alderan Resources’ Frisco copper/gold/silver project, in Utah. Kennecott will spend an initial $6-million on exploration at the project area to gain a 55% interest in the project, with the company... 

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